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Multiple Insurance

remnantActive Member

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For one to take advantage of the various insurance policies and their unique products, I suppose that one can insure an item with multiple insurance companies. I am aware that the value of the premium would be spread out across several companies but I think its a good way to save on the cost of the insurance by taking advantage of the best offers in each company. What do you think?

gata montesActive Member

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Bearing in mind that customer turnover involves extra expense for an insurance company - as its costly for them to be continually processing or rather underwriting new customers - and therefore insurance companies aren't particularly competitive when it comes to giving discounts on single lines of insurance.

Generally speaking - the bigger savings are made by putting all your insurance needs under one roof so to speak - simply because - as insurance companies prefer to keep multi-line policies in place for years - as its cheaper for them - in order to retain your business - they are prepared to offer much, much bigger discounts than you would get otherwise.

Or to put it simply - the more lines of insurance you have with one company - the greater savings.

George MarklinNew Member

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Find a older very reliable insurance company, not necessarily the cheapest and go with that company. Many insurance companies will tell anything to get your business, but when you have a claim, that's when the problems can start..